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Search Results 0 to 18 of about 19 (some duplicates have been removed)
, will they or won't they? the bailout chatter for greece intensifies. >> and here in the united states, ben bernanke will set out the fed's exit plan today but will likely make jobs clear, we'll still be in the car for some time to come. >> and welcome to "worldwide exchange." i'm christine tan in singapore where it's 5:00 p.m. in the city. let's get a view of where the asian markets have closed today. a lot of hopes pengd on the european union. they might come up with a plan to bail out greece. the nikkei 225 is up marginally. toyota continues to be focused. that stock climbing despite anal announcement that it's recalling another set of cars. the shanghai market up more than 1%. a lot of positive comments out in the country about strong import data and export data and that's helping to lift sentiment in china. the kos pit is moving up flat. people and investors are staying on the sidelines. the bombay sensex is trading down 0.5% and the aussie market is pretty much flat, up 0.2%. the ftse cnbc global 300 up 8 points, 4,243. ross, good to see you. >> hey, christine. we're very much focused on the w
not agreed to anything yet. >> and ben bernanke will be releasing his ideas on how the fed is going to pull back from its current role of propping up the economy in every way, shape, and form. we're going to have that live at 10:00. i know his comments are coming out, mark. i'm not sure if he's actually going to physically be there because you know in washington it's a little snow. what are they going to do? >> i think they now have a total of 50, five zero, inches on the ground. >> yeah, yeah. >> we also have big snow issues in new york, baltimore, philadelphia, airports closed, schools closed. it's a real mess. this is a live picture. >> wow. >> well, it was a live picture of reagan national airport. it is empty. >> that's amazing. it really is. mark, you know i remember when there was a forecast of snow things would be shut down and called off and to your point pretty incredible what has been going on there. snowmageddon. that's an amazing picture, live. no one at the airport. >>> the futures right now are plus 0.70 on the s&ps. we needed 1.42 to get to fair value. so it's very close to
. bernanke's testimony was released this morning. on outlining an exit plan, the market pretty much took a slide. a lot of things that told about -- heard about. the 10-year auction did not go too well. rick santelli will have more on that, partly because of the low volume, because of the storm. as the storm's intensified here in the northeast i know that traders are concerned about getting home and we've seen volumes get lower. financials have been the standout all day and really moved us into positive territory midday. jpmorgan, bank of america very strong. and strong that perhaps metlife set to buy its alcoa unit. energy and materials have gone back and forth as the dollar has gone back and forth. dollar lost ground midday. we saw them gained and now they're losing again as the dollar is stronger got and also got disappointing outlooks from lothan mentel. the super markets, maybe one of the benefactors to watch as far as the storms. their stocks today are doing pretty well. a friend of mine sent me picture it is from washington area super market chains there, calling them, so be it, s
much, sharon. we're not getting as much volatility today as yesterday although ben bernanke's tax did get a little movement. if you look at two-year yield it's slightly elevated and you look at the curve it's know changed. there's a potential for an exit strategy as depicted by that text. if you look at the next chart, indeed the euro versus the dollar has been mostly down, but it is bouncing back a bit especially in the last hour or so, keeping up with the headlines and some of those headlines, hey, the checks didn't have a good day and they sold an additional 150 million u.s. equivalent of their 15 year. they wanted to sell more, but portugal had better luck selling u.s. equipment of the 4 billion of ten-year note and let's hop across the pond and rebecca me ham. >> let's take a check of what's happening in europe and it's all about greece. no surprise there and we check on the fotse, the cac and the dax. 2.4% higher for greek eiquities today. we know we've had the european finance chiefsi having a conference call today. the ecb governing body is having a call tonight and tomorrow a
't paying attention. my lead of the bernanke speech was discount rate to be hiked. my lead on the minutes was -- >> it sounds like -- >> let me finish, melissa, just be clear, my sources are telling me in the wake of this that the concept there's another bit to come is not necessarily true. they may stop here. so the idea that somehow they're just beginning this process of going back to 100 over on the fed funds is not true. it's out there in a lot of stuff. they may stop here. >> rich bernstein -- >> i want to ask both of you. do you think fed funds december 31, 2010 will be higher than they are today? >> well, let me answer that question and put it back to you. the typical forecast, is that the unemployment rate will be 9.5% or higher. also, that the inflation rate over the last year will be 1 to 1.25%. i have to ask you if you think at that point the fed would begin to tighten? you tell me. >> first of all, i think the bond market will -- i don't think the bond market looks at core. i hate to argue with on you this one, but if we find the inflation rate starts breaking 3, 3.5, we break
" lending now that financial market conditions are improving. >> tom: so what are ben bernanke and company thinking? where does the fed go from here? and what does it mean for the cost of credit? we get some insight from a fed watcher and a market pro. you're watching "nightly business report" for thursday, february 18. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. the federal reserve took the first step today to bring the banking system back to normal. right after the market close, the fed announced it's raising the interest rate it charges banks by a quarter of a percentage point. >> tom: susie, the so-called "discount rate" is used by banks for emergency loans, and was cut drastically during the financial crisis. the fed raised that rate today, saying in a statement it's time to "normalize" lending now that financial market conditions are improving. >> susie: tom, the fed's move sounds
. ben bernanke and company were feeling more upbeat about the recovery at last month's fed interest rate meeting. in minutes from the late january meeting, policymakers agreed on the need to eventually raise rates, but they differed on when to start. meanwhile, the treasury says more americans are benefiting from the administration's foreclosure prevention plan. through january, almost a million homeowners had their mortgage payments cut, but those trial loan modifications have only been made permanent in 116,000 cases. walgreen's will soon be the corner drug store in new york city. it's buying duane reade for $618 million. the deal makes walgreen's the city, and the nation's, largest drug store. >> susie: the recovery in the hotel business has a long way to go, and 2010 will be another tough year. so says the man who runs intercontinental hotels, and the holiday inn and crown plaza chains. his cautious outlook comes a day after the intercontinental hotel group reported a 34% drop in quarterly profits. joining us now, andy cosslett, intercontinental's c.e.o. >> welcome to "nightly busin
garzarelli, president of garzarelli capital. wednesday, federal reserve chairman ben bernanke testifies on capitol hill about the state of the economy. and monday, we charge ahead with new credit card rules. they go into effect that day, so we look at how they'll affect the bottom line of banks. >> susie: profitability was not a safe bet for nevada casinos last year. casinos posted their biggest- losses ever. the state's gaming board says the industry lost nearly $7 billion in fiscal 2009. more than half of that-- $4 billion-- was in properties along the las vegas strip. the only bright spot, from a financial standpoint: people drank more! alcohol sales rose 2%, while revenue tied to casinos, rooms and food, all dropped. >> tom: a month after toyota's massive gas pedal recall announcement and we're learning just how busy some auto repair shops have been. two large toyota dealers, auto nation and penske auto group have fixed more than 17,000 toyotas each. penske says the accelerator problems cost $70 to fix. that's the cost to toyota. so based on penske's assessment, toyota may spend up
. the fed was very clear about that in its statement. ben bernanke was very clear about that. we have to take them at their word. banks are still nursing a lot of wounds. >> they can say that all they want but the truth is rates are going to go up. for most americans that is the most important rate. >> well, so, they're not expecting a big increase in mortgage rates actually. when they stop buying mortgages in march. and to the extent that mortgage rates do go up, you know, think if anything it gives them less of an inclination to raise the fed fund rate further down the road. if you ask me, the odds of a feds fund rate increase later this year have actually gotten down in the last 24 hours and gone up because the number was soft. the soft cpi number means the dove have a strengther hand. they're saying we've got to keep rates low for a long time. the feds said this technical discount rate did not change the broader view of where the financial system and the economy are. >> can you explain why, then, they did this in an emergency way? they have this meeting where they make this decisi
that we encountered right back in january, when we the concern about bernanke, when we first had the concerns about greece, still the market continues to rally, which is very interesting. and today there are about three or four of the dow jones comp componen components, those big market components that are actual flee negative territory. they've all drafted higher albeit on relative light volume. maybe it doesn't have much conviction but fact is now just sitting just 3% below where we closed a month and a day ago on january the 19th. "closing bell" continues with maria bartiromo. [ closing bell ringing ] >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo on the floor of the new york stock exchange. here's what we're following at close tonight. stocks gaining against today, another rally under way following stronger than expected manufacturing data in the mid-atlantic region. the rally helping to send oil meanwhile to its highest level in a month. finishing tonight at $79.06 a barrel. we're mom
. people still point to may of '07 when bernanke says subprime is 9% of mortgages, right? they're not infallible. and we can't expect them to be, i guess, is the answer, right? >> none of us is infallible. if you didn't learn that, you missed something over the course of the past three years. >> dan's with us for the rest of the program. we've got a lot more to talk about. >>> meantime, any questions or comments this morning, we'd love to hear from you. our address is squawk@cnbc.com. >>> when we come back, european exposure, debt crisis overseas, how some u.s. companies might be impacted. >>> still to come, olympic skiers headed to the starting gate at whistler while bankers in new york await a possible auction. we'll get an update from daniel nu mudd, the ceo of fortress, just ahead. >>> time now for today's "aflac trivia question." what baseball player nicknamed the georgia peach amassed 4,189 hits in his career? this is not more benefits at greater cost to your company insurance. this is not how does it fit in my company's budget insurance. this is help protect and care for
strategies tomorrow, another camp, which we think chairman bernanke is in and made clear last week in his testimony before congress, which is we'll start to sell assets and we'll start to do these other things, but after we hike. and then there's a middle camp that says we would love to get rid of some of the assets on our balance sheet but we're not going to do that until we're shoe the economy is in full swing, and we're not going to destroy things. they don't want to make a policy mistake. they still think the economy is fragile enough they don't want to push us back into a recession. >> thanks so much for stepping in and talking to us about this. we appreciate it soon. stay with us back in a moment with more. , seeing if we have enough points to stay longer. now? you don't have enough time... and you have to push all those buttons... no buttons, someone answers every time. yeah, right... bet you a massage... yeah, ok. hi, julie... i have a question about my points. hi, what button do i press for a massage? hello? new chase sapphire... you call. we answer. no waiting. just press right
in three months and just a hair under 100 million. bernanke said yesterday that the job market remains weak even though the economy is recovering. there is some good economic news. everything from washing machines to airplanes jump 3d% in january and the second monthly increase in a row. >>> coca-cola is changing the way it does business. spending more than $12 million to buy the large bottler. from using independent bottlers to controlling the process. pepsi has recently moved in that direction, as well. >>> get this, a relative of burr nad madoff is changing her name. she is married to buernie's son mark. she filed court papers for herself and her two kids to drop the madoff name. she probably doesn't want that out there, robben . >> she just wants to leave the name alone. >> completely. she's still married. it's not that. it's just the name. >>> a teacher danceoff sounded like kind of a fun idea for a pep rally until it became a lap dance dance off. >>> one of the most taulked abot people at the olympics may be heading home. >>> if you're running late, you must not have signed up for my
today. >>> meantime, making headlines in the business world, fed chief ben bernanke back on capitol hill telling the senate committee that the central bank is looking into whether u.s. you banks worsened greece's debt crisis. some u.s. banks are said to use complicated currency swap to help greece understate the debt problems betting thalt country would default on its debt. coming up tomorrow, friday on wall street, we'll get key reports, consumer sentiment, existing home sales, also a revised reading on fourth quarter gdp, the final day of the trading week. >>> a lot of questions today about why a killer whale at seaworld turned on its trainer. next jane velez-mitchell host of "issues" will give her take on this tragic incident. don't go anywhere. >>> 40-year-old dawn brancheau was one of the most experienced trainers at orlando seaworld. her death is a shock to her co-workers and park visitors who saw this happen yesterday. a killer whale named tilikum dragged her under water at the end of a performance in the shamu stadium. audience members said, at first it just seemed like it was pa
Search Results 0 to 18 of about 19 (some duplicates have been removed)